Grenada Citizenship by Investment

Introduction: Grenada has the sweet smelling distinction of being the Spice Islands of the Caribbean. Literally, you can smell the sweetness of nutmeg in the air while you are enjoying the beautiful beaches. Enjoy and relish the history of Grenada by visiting the spice plantations, the mountainous interior or the European relics of the colonial past. Grenada is truly a Caribbean treasure that combines natural wonders with the modern world of today. Starting in 2013 those who relish the Caribbean lifestyle can obtain lifelong citizenship by investment in Grenada.

Location of Grenada

The Caribbean island nation of Grenada is located in the southern part of the Grenadines Island group at the tail end of the Windward Islands in the Lesser Antilles island archipelago. The island nation consists of 7 islands with the largest and main island being Grenada. The next largest in size are the islands of Carriacou and Petite Martinique. Additionally Venezuela, Trinidad and Tobago and the vast continent of South America lies a short distance to the south.

The location of Grenada and its fertile soil and climate made it a coveted island for the European colonialist ambitions. This is because Grenada was ideally suited for the cultivation of nutmeg. As a result, the island became the center of the spice trade in the western hemisphere. In modern day, Grenada still supplies 20% of the world’s nutmeg! Additionally, Grenada is a world class location to grow other spices such as cinnamon, cloves and ginger.

How to Get To Grenada

Maurice Bishop International Airport is located on the Island of Grenada. The airport is accessible from throughout the other Caribbean Islands and also major cities such as Caracas, Miami, New York, Toronto, London and Frankfurt. Additionally, cruise ships depart from both Miami and Puerto Rico and feature Grenada as a regular port of call. If you have your own ocean vessel then you will find plenty of marinas where you can clear customs and immigration. Plus, you can purchase supplies on the islands and anchorage services are available in most bays and inlets.

If your final destination is Carriacou then it is only a short flight from Grenada to Lauriston Airport on an inter island charter plane.

Geology and Geography of Grenada

About 2 million years ago the volcanic rumbling from the ocean floor gave birth to the beautiful island of Grenada. As a result of the volcanoes, Grenada benefits immensely from the fertile soil and the mountainous interior of the islands. Therefore, visitors can enjoy the world class beaches and then hike into the world’s most beautiful waterfalls in the same day! What an amazing experience available to successful Grenada citizenship applicants. Plus, the current and future inhabitants of Grenada can enjoy the beautiful white sand beaches. Perhaps due to the long period of time that has elapsed since the last volcanic eruptions, Grenada enjoys white sand beaches instead of the black sand beaches so typical of other volcanic islands.

Key Grenada Citizenship Benefits

Visa Free Travel: The list of Grenada visa free countries is very long. Of special note is the fact that Grenada citizenship will get you visa free access to China and other notable Asian countries such as Hong Kong and Singapore. Additionally, Grenada visa free countries includes all of the European Union, United Kingdom, Commonwealth Nations and Caribbean countries (CARICOM). In total, Grenada citizenship by investment will get you visa free access to over 135 countries.

USA E-2 Visa: The United States has a coveted investor visa program which is only available to citizens of certain countries. Fortunately, citizens of Grenada are included on the list of countries under the E-2 program. This is one of the most coveted Grenada citizenship benefits available to applicants of the citizenship by investment program. The E-2 visa basically allows a investor to reside and work inside the US for a period of 2 years at a time. However, the visa is renewable as long as you maintain a satisfactory investment under the program.

Low Taxes: Additional Grenada Citizenship benefits include no taxes on international income, no wealth tax and no inheritance tax. However, non residents are taxed on income that is from or sourced in Grenada. Also, none of the Caribbean countries impose any offshore asset disclosure requirements e.g. FBAR.

100% Legal program: The Grenada citizenship by investment act of 2013 set forth the requirements and objectives of the Grenada Citizenship by Investment program. The main objective of the investment program is to further enhance and promote economic growth and worker skills in Grenada. This objective is to be achieved by permitting citizenship by investment while maintaining the integrity of the Grenada citizenship program.

Low Program Fees: Grenada citizenship benefits include the low costs of its program. For example, government processing fees are over 90% lower then comparable programs like Antigua and Barbuda. Additionally, under the Grenada real estate citizenship investment option there is a reduced government fee for a family of 4. The low Grenada citizenship cost should be very attractive for savvy businessman who have families.

World Class University: St George’s University is located on Granada Island and has accredited medical, veterinary and also arts and science education facilities. In addition, St George’s University is the host to a largely international student community. The student body numbers about 5,000 and provides a diverse cultural background for both foreign and local students.Successful applicants of the Grenada citizenship program will have ample opportunities for tertiary education on the island.

Unique Landmarks and Attractions: The island of Grenada features Grand Anse Beach. This lovely beach is regularly judged to be in the top 10 of all the tropical beaches in the world. Additionally, Grenada has the underwater sculpture park which is very alluring for divers. The statues in the park were strategically placed in order to enhance the nearby sea life and coral growth. Plus, the waves have altered the features of some of the statues over time giving them unique characteristics. Other amazing features of Grenada include secluded beach getaways around the islands, tropical waterfalls in the interior, lush tropical jungle and the legendary spice plantations.

No Residency Requirement: There is no requirement to ever visit the island in order to be a successful applicant under the Grenada citizenship program. Nor is there a minimum residency requirement to maintain citizenship after you receive your Granada passport. Additionally, there is generally no personal interview requirement for applicants although the government reserves the right to require one if necessary.

How To Get Grenada Citizenship By Investment

#1 Contribution to the National Transformation Fund

The Grenada citizenship by investment act of 2013 envisioned 2 paths to citizenship. The first option is called the National Transformation Fund (NTF). This option was created by the government in order to provide funding for important economic segments of the island’s economy. These important economic segments include tourism, agriculture and alternative energy. Successful applicants will be required to undergo a thorough application process. Plus, after the application process is successfully completed they must submit a non refundable per person investment amount.

From this point successfully completing the program becomes a 2 part process which usually takes about 12 months. Thereafter, the investor submits their application for permanent residency and also Grenada citizenship. Usually it is permitted to submit both approval requests at the same time. The Grenada citizenship cost under the NTF program is broken down in the table below:

*Professional fees for citizenship processing are payablefor all applications and will vary depending on the numberof dependents and application complexity. For individual applicants, the contribution amount under the program is $200,000 and fees are adjusted accordingly.

Application Process for the NTF:

The investor signs the professional agreement with our agency and fills in the application forms completely. Next, the investor transfers all of the funds into the designated NTF escrow account.

The proof of funds transfer is submitted along with the application to the Grenada citizenship by investment unit (CBIU).

The applicant’s due diligence period begins and usually takes about 2 months.

After the due diligence examination is completed then the CBIU issues the application approval letter.

The CBIU then procures the citizenship naturalization documents and passport and then delivers them to our agency.

After the documents are received they are sent to the investor via a reliable delivery service.

#2 The Real Estate Investment Option

The second program is the real estate option. The real estate option in the Grenada citizenship by investment program is intended to support the local tourism industry. This path to citizenship requires that investors purchase real estate which is part of a government approved development project. As long as the investor meets the minimum purchase threshold of $350,000 and completes the other application requirements they will be granted Grenada citizenship by investment. The investor is allowed to sell the property at the end of a 4 year period and still retain their Grenada citizenship. The Grenada citizenship cost under the real estate option is broken down in the table below:

*Professional fees for citizenship processing are payablefor all applications and will vary depending on the numberof dependents and application complexity. For individual investors, the contribution amount under the program is $350,000 and fees are adjusted accordingly.

Application Process for the Real Estate Option:

The real estate developer and the investor enter into a purchase and sale agreement for the government approved real estate. Additionally, the investor enters into a professional agreement with our agency.

The applicant transfers the full investment amount to the designated attorney controlled Grenada escrow account.

The required documents are submitted along with the application.

Upon approval the CBIU will issue the certificate of naturalization.

The passport application is then submitted to the department of immigration and when received it is sent to the applicant by reputable delivery service.

Required Documents for Submission to CBIU:

Application Package Form(s):

Annex 1 – Registration of Electronic Signature

Annex 2 – Family Members

Annex 3 – Application Form

Annex 3 Supplement – Particulars related to applicants

Annex 4 – Privacy and Information Release Form

Annex 5 – Criminal Record Verification Form

Annex 6 – Birth or Adoption Records

Annex 7 – Verification of Support of Dependents over the age of 11

Annex 8 – Medical Health Certification

Annex 9 – Statement of Source of Funds

Education History/Employment History

Application Checklist – Schedule II Form 1

Know Your Client Form

Application for a Grenadian Passport Form.

Additional Supporting Document (s):

10 current color passport size photos, Color copies of all passports possessed, Color Copy of all National ID documents, Certified copy of all marriage and divorce certificates, Original professional reference, Original Bank Reference, Resume or CV, Required Affidavits (as required in support of annex 7), Certified diplomas and school transcripts for dependents 18-25 years old (if applicable), Original police certificate and criminal records verification (annex 5), Original birth certificate or Adoption records, Medical health certificate with HIV results, Statement of Source of funds – adequate documentation is required (annex 9), Original Proof of Residential Address*

*The list is not exhaustive and other documents may have to be provided by the applicants, depending on their particular situation. These documents may include company incorporation and good standing certifications, ownership or title documents in support of SOF explanations, or any other type of document in support of the applicant’s statements made on the application forms. This list was only provided as a basic informational overview and New Passport Pros does not accept responsibility for additional documentation CBIU may require.

Other Documents:

Professional Agreement between the applicant and our agency.
Power of attorney granted by the investor in our favor worded to our specifications.

Disclaimer

It is absolutely imperative that all applicants and dependents are 100% honest during the entire application and approval process. If it was discovered that there was incorrect information submitted in order to qualify for citizenship your application can be rejected outright. Under such circumstances, no refund will be given for the Grenada citizenship cost you incurred.

In addition, subsequent to the Grenada citizenship being issued it can be revoked if it is determined that false information was submitted by the applicant during the application process. If so, no Grenada citizenship cost will be refunded nor will any Grenada citizenship benefits be retained by the applicant(s).

Information pertaining to the application requirements and fees is subject to change due to program adjustments or official legislation. Therefore, New Passport Proshall not be held responsible for any of the above information.

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